RBI: When you go to withdraw money from the bank ATM, it is often seen that small value notes are not coming out of the ATM and you have to withdraw 500 rupee notes, but now the Reserve Bank has taken a big decision on the issue and directed the banks to ensure that they are also coming out of ATMs.
It is necessary to increase the availability of 100-200 rupee notes.
The central bank on Monday directed banks to increase the availability of these notes for the general public, so that sufficient quantity of these price class notes can be extracted from the ATM. The RBI has issued a circular in this regard and said that banks and white label ATM operators (WLAOs) will have to implement these instructions in a phased manner.
Significantly, ‘White Label ATMs’ act like ATMs of government and private banks. Instead of banks, it is invested by private or non-banking financial companies (NBFCs). Through this you can withdraw cash, check balance or use all the facilities available through debit cards and credit cards available at other ATMs.
What is in the RBI circular?
The Circular of the Reserve Bank of India (RBI) states that this decision has been taken to increase the availability of often used bank notes to the public. Under this, now all banks and white label ATM operators of the country will have to ensure that 100 and 200 rupee notes regularly come out of their ATMs.
It further states that by September 30, 2025, 75 percent ATMs (Automated Taylor Machine) should have at least one cassette which takes out a bank note of 100 or 200 rupees. After this, in the next phase, by 31 March 2026, 100 or 200 rupee notes should be removed from at least one cassette from 90 percent ATM.
ATMs will become expensive from May 1
Here, let us also tell you that according to the rules changing in the country from 1 May 2025, the rules of withdrawing money from ATM machines will also change. Indeed, if a transaction is done with an ATM machine outside the home bank network or a balance is checked, the user will have to pay more fees.
